New York City’s controversial tax lien sales system for collecting unpaid property and water debts expires at the end of next month — without any clear path toward what comes next.
Mayor Eric Adams and City Council Speaker Adrienne Adams have both come out against the longtime practice of selling off tax liens to investors, which generates tens of millions of dollars each year and steps up pressure on property owners to pay their bills.
The city sold the liens from 2,841 properties in December 2021. It was the first sale since May 2019, after postponing the 2020 sale because of the pandemic.
A vacant Crown Heights residential property, on right, was listed on the city’s lien sale list, Jan. 7, 2022. | Samantha Maldonado/THE CITY This article was originally published on Jan 27 at 8:59am EST by THE CITY
New York City’s controversial tax lien sales system for collecting unpaid property […]